Thursday, October 7, 2010

More bad jobs news

Private-sector job growth tumbled by 39,000 from August to September, a considerably worse number than analysts had expected and indicative that the employment market is far from recovery, according to ADP.

. . . The goods-producing sector suffered the most, with 45,000 jobs lost and manufacturing lost 17,000, while medium-sized businesses lost 14,000 and large businesses dropped 11,000. The service sector provided the only growth, with a gain of 6,000.

. . . Employers planned to lay off 37,151 workers in September, up 7 percent from the 34,768 planned job cuts in August, a low for 2010.

By now, everyone should agree that the "stimulus" bill was a failure.

Even it's most ardent defenders are reduced to the "it could have been worse" defense.

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